A Study On The Civil Liability Of Network Service Providers In China

With the development of the Internet financial change quickly, the peer-to-peer lending has lost its position, the equity-based crowdfunding as a new force suddenly rises.The equity-based crowdfunding is a small mass financial instrument in 2 years ago,now it gets more and more attention from investors,but some problems come out in the process of rapid development.Drawing a lesson from the peer-to-peer lending, the legal issues about equity-based crowdfunding has caused attention from all aspects, especially the legal risks and legal supervision. But, few people pay attention to the legal status and civil liability of internet service providers which operate and manage these equity-based crowdfunding websites.Some scholars think equity-based crowdfunding is a new form of private financing developed by internet, but in July of 2015, the official document define it as small public equity-based financing. In the official document, our government encourages financial innovation,These websites certainly become pioneers of financial innovation.As the middleman and important role in equity-based Crowdfunding,internet service provider bear much legal liability,who`s civil liability contains important research value.By thinking the concept and meaning of equity-based crowdfunding,researching the operation mode of equity-based crowdfunding websites,I have found two operation modes of Chinese equity-based crowdfunding websites: the websites independent audit mode and the "leading+following" mode.The two modes as the starting point,researching the legal relationship between internet service provider and other participants.I try to give a legal definition to internet service provider by thinking the legal characteristic of it and the equity-based crowdfunding websites.In my point of view,the equity-based crowdfunding websites is similar to the shop of real estate agency,different from normal real estate transaction,related services only provided in the shop and free service. My paper will introduces various civil liability of internet service provider,on this basis,I point out some issues in our laws and put forward some suggestions about the equity-based crowdfundin industry, what I have done is to promoting the trade development.